Vedanta Oil and Gas Q2 results: swings to net profit of Rs 746 crore

Vedanta Oil and Gas Limited reported consolidated net profit attributable to its owners of Rs 746 crore for the quarter ended 30 September 2026, against a loss of Rs 91 crore a year earlier, according to its filing with the National Stock Exchange. Revenue from operations was Rs 2,488 crore. The board approved the unaudited results on 29 October 2026.

What Happened

The company said in the filing that its board approved the unaudited consolidated and standalone results for the quarter and half year ended 30 September 2026. It said its statutory auditor's limited review report carries an unmodified conclusion. The figures below are consolidated.

Total revenue from operations was Rs 2,488 crore. That is 6.2% higher than the Rs 2,342 crore in the same quarter a year earlier and 0.8% lower than the Rs 2,507 crore in the previous quarter.

Net profit attributable to owners was Rs 746 crore, against a loss of Rs 91 crore a year earlier. The previous quarter's profit attributable to owners was Rs 945 crore, so the latest figure is 21.1% lower. The table shows that the previous quarter included a profit of Rs 1,097 crore from discontinued operations and a net exceptional loss of Rs 441 crore. For the latest quarter, the whole profit of Rs 746 crore came from continuing operations; the previous quarter's continuing operations recorded a loss of Rs 152 crore.

For the half year, net profit attributable to owners was Rs 1,691 crore, against a loss of Rs 193 crore a year earlier. Basic earnings per share were Rs 1.91 for the quarter.

The auditor's review report draws attention to a note on litigation over extension of a production sharing contract for the Cambay block with the Ministry of Petroleum and Natural Gas. It says the Delhi High Court dismissed the company's case on 22 July 2026, that the company has appealed to a Divisional Bench, and that the company has recognised an impairment provision of Rs 379 crore in the current period. The auditor said its conclusion is not modified in respect of this matter.

What It Means

The filing shows a profit in the latest quarter, compared with a loss a year earlier. Comparisons with earlier periods need care: the filing marks the earlier-period figures as drawn from carved-out financial information, which the auditor's report says was reviewed by another audit firm.

The Cambay litigation is described in the auditor's report as sub-judice. This report states only what the filing records. It is not investment advice.

Source: Company filing on NSE